Terrorism Backstop Moves Ahead

Congressional deadlock on extension of the federal terrorism risk insurance program has been broken with House approval of a bill extending the program for seven years from December 31. The bill, which passed the House yesterday  by a vote of 360-53,  is the same Senate measure that was passed last month (see our November 19 posting). The bill is now expected to be signed by the President. For more on this story check out a December 18 Business Insurance online article by Mark Hofmann. I.I.I. has further info on terrorism risk available online.

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